Driven by downstream demand, global forklift orders and sales both have grown steadily in recent years. In 2016, the figures reached 1,182,100 units and 1,152,900 units, up 7.5% and 8.3% from a year ago respectively, largely due to a huge increase in European and Asian markets.
China, still the world's biggest forklift market, saw sales go up 13% to 370,067 units on an annual basis in 2016, including 268,567 units sold in domestic market, a 13.3% growth year on year, and soar by 34.9% from a prior-year period to 368,743 units in the first three quarters of 2017. The full-year sales are estimated to outstrip 400,000 units in 2017.
Product structure: electric forklift sales performed strongly in China, hitting 145,238 units in the first nine months of 2017, an upsurge of 44% from the same period last year and a 39.4% share of total forklift sales, and are predicted to attain 162,055 units by the end of 2017, hopefully accounting for 40.5% of the total. Downstream demand and the country's emission policies will secure continual increase of electric forklift in market share which will reach an estimated 48% in 2021.
Moreover, BYD brings new lithium battery technology into in forklift industry, opening a new gate for development of lithium battery forklift. Other forklift companies including Anhui HeLi, Hangcha, EP Equipment, Noblelift and Ningbo Ruyi, all have begun to build their own lithium battery forklifts. It is projected that lithium battery forklift will become more popular in China market.
Enterprise competition: China's forklift industry sees quite fierce competition and high concentration. Leading players represented by Anhui HeLi and Hangcha Group, grabbed a combined 45.1% share in the whole forklift market in 2016, while top20 companies occupied over 91%. Additionally, automakers like Chery and BYD and some companies in Jiangsu, Zhejiang and Anhui also set foot in the industry, making the competition severer.
Meanwhile, the Chinese forklift aftermarket has developed gradually, noticeably the forklift rental market. In recent years, forklift rental companies kept rising in number. Besides internationally well-known manufacturers such as Linde, Jungheinrich, Toyota, Hyster-Yale and Crown Equipment that have operated rental business in China, Chinese companies, typically Anhui HeLi, LiuGong, Tailift, Lonking, Goodsense and Hangcha, also got involved in the market. As rental market matures, forklift rental and sales will coexist.
Key Topics Covered:
1 Overview of Forklift
2 Global Forklift Industry
3 Forklift Industry in China
4 Chinese Forklift Market Segments
5 Chinese Forklift After-market
6 Major Global Forklift Companies
7 Major Forklift Companies in China
- Anhui HeLi Co., Ltd
- Anhui Jianghuai-Yinlian Heavy-Duty Construction Machine Co., Ltd.
- Anhui TEU Forklift Co., Ltd.
- Anhui VMAX Heavy Industry Co., Ltd.
- Anhui Zoomlion Industrial Vehicle Co., Ltd.
- BYD Forklift (Shaoguan) Co., Ltd
- Beijing Hyundai Jingcheng Construction Machinery Co., Ltd.
- CLARK Material Handling International
- Crown Equipment Corp.
- Dalian Forklift Co., Ltd.
- Dooan Industrial Vehicle
- EP Equipment Co., Ltd.
- Guangxi LiuGong Machinery Co., Ltd
- Hangcha Group Co., Ltd.
- Hangzhou Good Friend Precision Machinery Co., Ltd.
- Hefei Banyitong Science & Technology Development Co., Ltd
- Hyster-Yale Materials Handling, Inc
- Jiangsu Jingjiang Forklift Truck Co., Ltd.
- Jungheinrich Group
- Kion Group
- Komatsu Ltd.
- Lonking (Shanghai) Forklift Co., Ltd.
- Mitsubishi Logisnext Forklift
- Ningbo Ruyi Joint Stock Co., Ltd.
- Shandong Leiming Heavy Industry Co., Ltd.
- Shandong Volin Heavy Industry Machinery Co., Ltd. (Former Shandong Shantui Machinery Co., Ltd.)
- Shandong WeCan Technology Co., Ltd.
- Suzhou Pioneer Material Handling Equipment & Technology Co., Ltd.
- Tailift Machinery & Equipment (Qingdao) Co., Ltd.
- Toyota Industries Corp
- Vita-Wheel Holdings Ltd.
- Wuxi KIPOR Machinery Co., Ltd.
- Xiamen XGMA Machinery Co., Ltd.
- YTO (Luoyang) Transportation Machinery CO., Ltd.
- Zhejiang Goodsense Forklift Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/9qn8zv/global_and_china?w=5
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Latest posts by Sarah Thompson (see all)
- UnitedHealthcare Donates Hasbro's NERF ENERGY Game Kits to Jackie Robinson Family YMCA - February 19, 2018
- Rigaku Features Latest Analytical X-ray Technology at 62nd Biophysical Society Meeting - February 19, 2018
- Lynette Gray is recognized by Continental Who's Who - February 19, 2018